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Fly News Breaks for October 18, 2019
Oct 18, 2019 | 07:36 EDT
Credit Suisse analyst Michael Binetti downgraded Macy's (M) to Underperform from Neutral with a price target of $12, down from $19. In a research note to investors, Binetti says he thinks structural challenges are poised to accelerate in 2020 and thinks consensus estimates for 2020 are likely to be revised significantly lower. Binetti adds that same-store sales trends for Q3 are likely running below Street estimates and guidance to a big Q4 SSS inflection is "tough to embrace" without downside gross margin risk. Binetti also downgraded L Brands (LB) and Gap (GPS).
News For M;LB;GPS From the Last 2 Days
Nov 14, 2019 | 09:40 EST
Unusual total active option classes on open include: FuelCell (FCEL), Disney (DIS), Taiwan Semi (TSM), Target (TGT), Marvell (MRVL), Broadcom (AVGO), Kraft Heinz (KHC), Beyond Meat (BYND), Costco (COST), and Macy's (M).
Nov 14, 2019 | 07:04 EST
Guggenheim analyst Robert Drbul said the off-price sector remains one of his favorites in U.S. retail and he believes the environment will be supportive this holiday and in 2020 based on the inventory imbalance he sees in the marketplace today, which should create a product/buying environment that supports continued revenue gains. He predicts a return to postive double digit percentage earnings growth in 2020 and raised his price target on TJX (TJX) shares to $66 from $60 and his price target for Ross Stores (ROST) to $125 from $120. He has Buy ratings on both stocks. Elsewhere in the group, he keeps Neutral ratings on Burlington Stores (BURL), Nordstrom (JWN) and Macy's (M).
Nov 13, 2019 | 07:35 EST
Notable call activity was cited Tuesday in Macy's (M), Amarin (AMRN), and Craft BrewCraft Brew Alliance (BREW).